Guyana's next offshore production vessel, the FPSO Jaguar, has surpassed the 75% construction-completion mark, with first oil still expected in 2027, according to an update from its builder, SBM Offshore.
In its third-quarter 2026 trading update released on Thursday, the Dutch-based offshore engineering company said the lifting of the vessel's topside modules had been successfully completed, while integration and commissioning activities are continuing.
The Jaguar FPSO is being built for ExxonMobil Guyana and is designed to produce up to 250,000 barrels of oil per day, with gas-handling capacity of 540 million standard cubic feet per day (MMscf).
SBM Offshore reported that the project is now more than 75% but less than 100% complete, placing it in the final stages of construction and preparation ahead of its expected 2027 delivery.
The vessel is being constructed under a Sale and Operate contract, with SBM Offshore holding a 100% share in the project. It is one of five projects currently in the company's construction portfolio, alongside developments in other offshore markets.
Once operational, Jaguar will add another 250,000 barrels per day of production capacity to Guyana's growing offshore oil industry. Its planned gas-handling capacity of 540 million standard cubic feet per day will also support the processing of associated gas from the development.
The latest update comes as Guyana continues to expand its offshore production capacity through successive developments in the Stabroek Block, operated by ExxonMobil Guyana.
SBM Offshore said the Jaguar project remains on schedule, with first oil expected in 2027.
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